Quote
Ruchir Sharma, chief global strategist at Morgan Stanley Investment, says evolving blockchain technology has led to the growth of bitcoin and as more people invest in the cryptocurrency, it can harm the U.S. dollar and weaken democracy.
https://apple.news/AsIjmR1UeQb-AMiZXiMGGDg
https://apple.news/AsIjmR1UeQb-AMiZXiMGGDg
He mixes cause and effect. It isn't "betting on bitcoin" that is harmful to the US dollar (or any other potential reserve currency), it is the policies of extreme money printing that all the central banks are engaged in that is harmful to all fiat currencies. Bitcoin is a tool to protect yourself and the product of your life from bad policies engineered by elitist authoritarians around the world.
He kind of touches on that in the video, but not completely. Any form of competition for sound money is a good thing.
Any form of money that lets people protect themselves from looters is positive.
It is like saying chemotherapy is bad for oncologists because it might hurt their practice if someone is cured. Honest doctors would be fine with that since they want people healthy. Dishonest ones would prefer to keep the cancerous money printing going and then complain about a treatment.